Mizuho Boosts Zoom Video Communications (NASDAQ:ZM) Price Target to $105.00

Zoom Video Communications (NASDAQ:ZM) had its price objective upped by Mizuho from $90.00 to $105.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on ZM. Wedbush initiated coverage on Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective on the stock. UBS Group raised their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday. Bank of America raised their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday. Finally, The Goldman Sachs Group raised their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $85.20.

Zoom Video Communications Stock Down 6.3 %

ZM opened at $83.41 on Tuesday. The business’s fifty day simple moving average is $74.16 and its 200 day simple moving average is $65.89. Zoom Video Communications has a 52 week low of $55.06 and a 52 week high of $92.80. The stock has a market cap of $25.67 billion, a PE ratio of 29.90, a P/E/G ratio of 7.33 and a beta of -0.05.

Insiders Place Their Bets

In related news, CFO Kelly Steckelberg sold 8,901 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $66.47, for a total value of $591,649.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Aparna Bawa sold 831 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. The trade was a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 367,108 shares of company stock worth $26,796,191 over the last three months. Company insiders own 10.78% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

A number of hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in Zoom Video Communications by 96.7% in the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after purchasing an additional 2,579,720 shares during the period. AQR Capital Management LLC grew its position in Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after purchasing an additional 2,520,987 shares during the period. FMR LLC grew its position in Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the period. Acadian Asset Management LLC grew its position in Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after purchasing an additional 1,855,679 shares during the period. Finally, Eagle Asset Management Inc. bought a new stake in Zoom Video Communications in the 3rd quarter worth approximately $62,038,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.